Lawn Mower Market

The study involved four major activities in estimating the current size of the lawn mower market. Exhaustive secondary research was conducted to collect information on the market, the peer market, and the parent market. The next step was to validate these findings and assumptions and size them with industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

The lawn mower market is directly dependent on mower production. Lawn mower sales/registration volume was derived through secondary sources such as industry organizations, corporate filings (such as annual reports, investor presentations, and financial statements), trade, paid repository, and relevant associations such as COMAGARDEN, Agricultural Engineers Association (AEA), European Garden Machinery Federation (EGMF), and OPEI. Historical sales/registrations data was collected and analyzed, and the industry trend was considered to arrive at the forecast, which was further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, and product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews were conducted to gather insights such as lawn mower sales/registrations and market forecasts, future technology trends, and upcoming technologies in the industry. Using the information gathered from secondary research and model mapping, data triangulation of all these points was carried out. Stakeholders from the demand and supply sides were interviewed to understand their views on the aforementioned points.

Primary interviews were conducted with market experts from both the demand (lawn mower manufacturers) and supply (component manufacturers) sides across four major regions, North America, Europe, Asia Oceania, and the Rest of the World. Approximately 45% and 55% of primary interviews were conducted with the end user and the OEM and tier-1 supplier, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, marketing, operations, R&D, and aftermarket, were covered to provide a holistic viewpoint in the report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter expert opinions, led to the findings as described in the remainder of this report.

Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts

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Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the lawn mower market and other dependent submarkets, as mentioned below:

• Key players in the lawn mower market were identified through secondary research, and their global market shares were determined through primary and secondary research.
• The research methodology included a study of annual and quarterly financial reports and regulatory filings of major market players (public), as well as interviews with industry experts for detailed market insights.
• All industry-level penetration rates, percentage shares, splits, and breakdowns for the lawn mower market were determined using secondary sources and verified through primary sources.
• All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
• The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
• Qualitative aspects such as market drivers, restraints, opportunities, and challenges were taken into consideration while calculating and forecasting the market size.

Lawn Mower Market : Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.